Down the Memory Lane
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Vol. 1, Issue # 5. June, 2020 Website : www.imec.biz Call - 416-827-5189 / (e-mail) [email protected] Interview: Jan De Silva From the Interview: Premier’s Desk Hon. Ranj Pillai President & CEO, Toronto Region Board of Trade Exclusive Guest Column Deputy Premier, Yukon With over 13,500 members, Toronto In a special, exclusive op-ed for Hon. Ranj Pillai is the Deputy Premier Region Board of Trade is one of the largest Canada India Insight, Ontario’s Premier of Yukon, a Canadian territory with the and most influential Chambers of Commerce Hon. Doug Ford talks about the Ontario US state of Alaska to the west, Northwest in North America. At a time when thousands spirit shining brightly, praises the services Territories to the East and British Columbia of Businesses are suffering from the and help provided by Indo Canadian to the South. A small territory with Pandemic and Toronto is still slowly just Organizations during the Pandemic and approximately 41,000 people, 1 MP and 1 getting back to work, Canada India Insight- keeping ties strong with Ontario’s friends Senator to represent it in Ottawa. like India. Read more on Page 2 Read more on Page 4 Read more on Page 5 Anshuman Gaur Interview: Rahul Bhardwaj Down the Deputy High Commissioner of India President & CEO to Canada - Guest Column Institute of Corporate Directors (ICD) Memory Lane The Electronics System Design & Corona pandemic has disturbed Manufacturing (ESDM) sector has emerged short, medium and long term plans for all as one of the most growth oriented sectors companies. Businesses are closing down in India. Driven by growing demand from and going bankrupt at an alarming speed, While we are all occupied in the aspirational consumers, supportive policy people are losing jobs and layoffs are present and now, Canada India Insight infrastructure created by the Government being announced everywhere, at the same takes you back to the memory lane. From and competitive manufacturing costs, time, a few companies have the audacity Jawaharlal Nehru (1947) to Narendra Modi India has emerged as one of the world’s to announce bonuses for senior leaders (2020), India has had 15 Prime Ministers, fastest growing electronics manufacturing while announcing layoffs and bankruptices, while Canada has 28 Prime Ministers so far hubs. Electronics manufacturing in India raising serious questions about ethics and from John A. Macdonald (1867) to Justin has grown rapidly with a CAGR of around governance. Supply chains are disrupted Trudeau (2020) let us refresh our memories 25% during the past 4 years, with domestic heavily and there is growing uneasiness a bit (page 8 & 9) Read more on Page 6 Read more on Page 7 2 “ With global supply chains taking a hit, we see an opportunity to boost interprovincial trade ” By : Vipul Jani will still hold value to businesses boost interprovincial trade in businesses, and we encourage Continued from page 1 – the COVID-19 shutdown has Canada by removing barriers. businesses to take advantage of Editor Vipul Jani interviewed Jan emphasized the importance of a The elimination of interprovincial every program they’re eligible De Silva, the President & CEO strong digital infrastructure. trade barriers would enable for. On rent relief, the province of this 175 year old prestigious To make sure more businesses to buy and sell within has recently banned commercial institution. businesses have that our domestic borders and help evictions for tenants who are What role is an accelerate their journey eligible for the program to organization like the towards recovery. encourage landlords to apply. Toronto Region Board of Toronto is home to However, we know these Trade playing at a time hundreds of events, subsidies won’t last forever – like this, and how do big and small, indoor so we’re working hard to get you keep your members conferences and outdoor businesses to a place where engaged (beyond public events. Right they can reconnect with their Webinars) ? now, all events and workforce and customers and - Earlier in the conferences are on hold start to rebuild. Programs like pandemic, we saw that for months and maybe RAP will help with that, but that’s small and medium-sized for months more to come. just one example. businesses were taking the Do you see a return Mortgage and housing hardest hit and urgently to pre-COVID normal, markets are now getting needed support. As a direct and what happens tighter, what impact will response to that, we created to thousands of jobs that have on our recovery ? a business support portal dependent upon the - In the Toronto housing featuring COVID-related Jan De Silva events sector ? market, we’re actually seeing news, resources and supports for - Absolutely, business more supply becoming available businesses. The site also features infrastructure in place, as part tourism and major events are which is leading to a decrease a live chat option that keeps of the Reimagining Recovery a big driver for our region’s in rental prices. This is largely people engaged beyond what they framework, we launched the economy. Last year, we released a good thing – we need housing may have initially come to the Recovery Activation Program, a report with Tourism Toronto to be affordable to a wide range site for. You can visit the portal at or RAP. The program will that showed major business of workers to ensure that our supportbusiness.bot.com. help businesses of all sizes conferences and events alone economy can rebound after More recently, we’ve across Ontario transform their generate more than $850 million this. This could provide an been hearing businesses think operations with technology. a year for the city. Across the opportunity to refocus our efforts longer-term – worried about Businesses can sign up for the region, our visitor economy on providing more affordable their ability to bounce back from program at supportbusiness.bot. makes a $17.6 billion impact. rental and home-ownership this. To address those concerns, com/RAP. A lot more needs to options. we’re also playing a role in How comfortable are happen when it comes to testing, Can you speak to your recovery planning by releasing Toronto and GTA based tracking and the development of role and experience with the our Reimagining Recovery companies working with a vaccine before things truly get Asia Pacific Foundation ? framework. The framework others based outside GTA / back to “normal,” but we will get - It was an incredible is rooted in expert insights, Ontario / Canada ? there. Until then, the first track honour to be appointed as designed in collaboration with - The Board and the World in our Reimagining Recovery the Canadian representative government and industry Trade Centre Toronto, the framework focuses on how we to the Asia Pacific Economic leaders and organized around six Board’s trade services arm, have can support businesses through Cooperation’s Business Advisory priority work tracks essential to helped hundreds of companies different stages of the pandemic, Council. Prior to joining the recovering from this pandemic grow their international markets, and the second track looks at Board, I worked extensively in and preparing for future and we know that trade is a what recovery means for different Chinese markets – so I know economic shocks. critical part of our region’s sectors. Tourism, culture and there are a lot of opportunities What do you hear economy. events are a part of both. to further strengthen trade and from the industry about In our Reimagining Many businesses economic ties with some of where we can be a year from Recovery Framework, one track is have reservations about not the Asia-Pacific region’s most now ? dedicated to trade. For instance, being able to pay back the dynamic economies. Despite - Now, more than ever, we we’re looking at how trade $40,000 government loan or the anxiety around global travel are seeing the value of digitization missions and agreements can the reservations in applying right now, global trade and for businesses to help grow be formed without international for rent relief or even the collaborations will continue to their operations and improve travel and how we can support wage subsidy programs. be a crucial part of helping the efficiencies when managing HR, businesses in the GTA with this What are your thoughts on region’s – and all of Canada’s – customer service, supply chains transition. With global this ? businesses succeed. and more. While some elements supply chains taking a major hit - These programs have been (Jan De Silva is President & of business will stay the same – during this pandemic, we are an essential lifeline for many CEO, Toronto Region Board of Trade) for instance, physical locations also seeing more opportunity to Canada India Insight www.imec.biz 3 Prime Minister Justin Trudeau’s and ideas. As for Leslyn Lewis pet project of winning a and Derek Sloan, enjoy the party temporary, two year seat on while it lasts. None of them the United Nations Security made the slightest impression, Editorial Council, has fallen flat, with atleast on me. - Vipul Jani Canada losing to Norway and As promised earlier, the Ireland, causing yet another Canada India Insight You Tube embarrassment for the Trudeau Talk Show is now launched. In Could this be any more everybody. What it has done in Liberals on the foreign affairs Episode 2, I talk to Mr. Rahul different for India and Canada the Galwan Valley with India front. The fact that this time Bhardwaj, President and CEO ? While life, as we know it, has destroyed any remaining Trudeau govt got less votes for Institute of Corporate is returning to normal, sort sympathy or goodwill it had than what the Harper Tories Directors (ICD), a voice of of, in Canada, with Corona in India and beyond.